One of today’s top trending stocks is D-Wave Quantum, (QBTS) a leader in the field of quantum computing. Shares are surging after the company provided a major update this morning.
D-Wave is known for producing and developing quantum computing systems, as well as software and services. Its machines provide clients with practical quantum solutions, enabling them to take advantage of the transformational technology.
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Quantum refers to a type of computing that leverages the principles of quantum mechanics to perform tasks at a faster rate than classical systems.
The company has enjoyed a strong start to the month of May, primarily due to an extremely promising Q1 earnings report that revealed several new records. However, a more recent announcement has caused QBTS stock to skyrocket today, making it one of the market’s top movers.
Big news from D-Wave is sending shares into the green
After a week of modest growth, D-Wave stock kicked off trading today with a surge and, despite some volatility, has been mostly trending upward. As of this writing, QBTS is up 27% after dropping slightly from its midday high of 30%.
Related: Quantum computing stock surges after surprising announcement
This surge is due to D-Wave announcing the release of its latest quantum computing system, Advantage2.
The sixth iteration of the company’s machines is described as D-Wave’s most advanced quantum system to date. According to a statement, it can solve complex problems that classical computers cannot.
D-Wave also notes that this new addition to its quantum computing family is both powerful and energy-efficient. It makes a significant step forward not just for D-Wave but for the entire quantum computing field, according to CEO Dr. Alan Baratz.
“It’s an engineering marvel, with substantial technical advancements that highlight D-Wave’s progress in scaling quantum technology to meet industry demands for growing computational processing power while maintaining energy efficiency,” Baratz states.
He adds that this commercial-grade machine is an important step forward in helping customers realize the value of quantum computing, a mission that D-Wave is highly focused on.
The company’s statement also highlights that Advantage2 can deliver “performance gains with greater coherence and increased qubit connectivity,” helping it address more complex problems.
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